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Europe is extracting less value from its people than the U.S. is right now. Hardly a bad thing
by erhk 5y ago
Europe is extracting less value from its people than the U.S. is right now. Hardly a bad thing
- BobbyJo 5y agoIf you assume the value extracted leaves the system, the sure. That's a bad assumption though. When everyone makes more everyone gets more. I mean, if a lot of something gets made in the US, it's generally because the US people demand it with spending.
- galgalesh 5y agoI think you misunderstood the original point. The idea is that there is more to life than consumption. Even if a higher extraction results in more consumption, that doesn't mean the end result is more valuable to the people. When you remove the assumption that more consumption equals more value to the consumer, then it doesn'tatter whether the value "leaves the system" or not.
- passerby1 5y agoDo you mind sharing sources for this? I'm genuinely interested in this topic.